PAR Technology (PAR) Drops After JPMorgan Initiates Coverage with Underweight Rating and $12 Target

Shares of PAR Technology (NYSE:PAR) fell 3.1% on May 29, 2026, after JPMorgan initiated coverage with an Underweight rating and a $12 price target. The stock closed at $15.45. JPMorgan cited the company’s high debt burden, projected at seven times EBITDA in 2026, and limited potential for margin improvement. The bank also pointed to intense competition from well-funded, established rivals as a major challenge. PAR Technology shares have dropped 57% year-to-date and trade 78% below their 52-week high of $71.23, reached in July 2025.